Seadrill has canceled a contract for the construction of the sixth generation West Mira semisubmersible drilling unit.
The company had ordered the unit during the second quarter of 2012 and the delivery date put forward in the construction contract had been for December last year.
However the company said it had canceled the shipyard contract due to the shipyard’s inability to complete the unit in the specified frametime.
Seadrill has the ability to recoup the $168million in pre-delivery instalments to the shipyard, plus acrued interest.